Myocardial infarction (MI) is detected using electrocardiography (ECG) signals. Machine learning (ML) models have been used for automated MI detection on ECG signals. Deep learning models generally yield high classification performance but are computationally intensive. We have developed a novel multilevel hybrid feature extraction-based classification model with low time complexity for MI classification. The study dataset comprising 12-lead ECGs belonging to one healthy and 10 MI classes were downloaded from a public ECG signal databank. The model architecture comprised multilevel hybrid feature extraction, iterative feature selection, classification, and iterative majority voting (IMV). In the hybrid handcrafted feature (HHF) generation phase, both textural and statistical feature extraction functions were used to extract features from ECG beats but only at a low level. A new pooling-based multilevel decomposition model was presented to enable them to create features at a high level. This model used average and maximum pooling to create decomposed signals. Using these pooling functions, an unbalanced tree was obtained. Therefore, this model was named multilevel unbalanced pooling tree transformation (MUPTT). On the feature extraction side, two extractors (functions) were used to generate both statistical and textural features. To generate statistical features, 20 commonly used moments were used. A new, improved symmetric binary pattern function was proposed to generate textural features. Both feature extractors were applied to the original MI signal and the decomposed signals generated by the MUPTT. The most valuable features from among the extracted feature vectors were selected using iterative neighborhood component analysis (INCA). In the classification phase, a one-dimensional nearest neighbor classifier with ten-fold cross-validation was used to obtain lead-wise results. The computed lead-wise results derived from all 12 leads of the same beat were input to the IMV algorithm to generate ten voted results. The most representative was chosen using a greedy technique to calculate the overall classification performance of the model. The HHF-MUPTT-based ECG beat classification model attained excellent performance, with the best lead-wise accuracy of 99.85% observed in Lead III and 99.94% classification accuracy using the IMV algorithm. The results confirmed the high MI classification ability of the presented computationally lightweight HHF-MUPTT-based model.